Digital Strategy – Competitive analysis
This is second in series of digital strategy.
It is very important to perform due diligence before we actually conduct the digital strategy session with customer. This is highly important for digital strategist to move the needle for their customers in terms of providing the right strategy. In this session, we will discuss about benchmarks which we need to review before we actually conduct strategy sessions.
Identify competition – First and foremost important is to identify how your competitions are doing. They should be identified on right scale like they should not be 50 times bigger or smaller in terms of revenue. $ 500 million company should not be competition for $ 5 million company on most of the account.
Following are few areas which needs to reviewed for your competition.
Content Architecture – This is to review how the content is structured for competition sites so that content for your site can be structured in much better fashion.This is highly important so that visitors can find the right content in few steps.
Content Tagging – track through competition how they are doing in terms of content tagging. This helps in finding related content on different pages, providing the context to users and tracking user behavior through these tagging.
Personalization – Review how your competition doing in terms of personalization. This personalization based content helps in retaining your visitors.
Gated Content + Progressive Profiling – Providing content through gated channel help to gather as much information as possible but do keep gated form with minimum fields in order not to lose your visitors. Test your competition as how they are doing in terms of providing their public facing assets to visitors. It is important that visitors should not face too much of difficulty in accessing your digital assets.
Analytic – It is very important to review the analytics of current site to gather the insights. These insights like bounce rate, traffic volume, traffic growth year on year, unique visitors etc.
Social Media – To review how competition is performing social media wise. There specific areas in which sites are measured.
| Strength | Sentiment | Passion | Reach | Visibility |
| How much is your brand is being discussed/mentioned online. | Positive feedback divided by negative feedback | The higher the number the smaller number of people talking about your brand | Unique identification by unique visitors | Number of mentions in the social sphere |
It is always important to create rich social media site.
Search – How effective if your competition’s site search. Are they using faceted search, type ahead etc?
Cons – Finding cons are as important as finding features from your competitions. There can be cons like no lead generation forms, no related content etc.
Sitecore & Digital 